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Full text of "Shipping Practice"

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A CHARTERING broker may be described as an intermediary
between the shipowner and the merchant or the cargo
owner. His knowledge must be extensive in order that he
may cope with all requirements of his business; he must
have a sound knowledge of shipping law, geography, port
information, charges throughout the world, facilities at
difierent places, distances between ports, and countless
other matters.

He acts between a shipowner who has tonnage idle, and a
cargo owner who has a cargo which he wishes to be trans-
ported. He engages space for cargo and arranges the whole
of the business details between the principals, receiving for
his services the commission agreed under such arrangement.

When he fixes a contract of this nature it is known as a
charter-party, of which there are three classes: voyage, time,
and demiss^^he charter-party is a contract of affreight-
ment, and for voyage ch^^rs i* an aglT*nvy t fw thf* r*^
riaffe of goods from one specific port to another, the owner
oFthe vessel receiving freight for the cargo carried. In the
case of time and demise charters, both of these contain a
contract whereby the vessel is actually hired for a specified
period of time, during which period the charterer has the
freedom, within the stipulations of the charter-party con-
ditions, of using the vessel for what purposes he may wish.
In a demise charter the ownership to all intents and pur-
poses changes hands for the period of the contract. The
payment in this case is for the hire of the vessel, and an
agreed amount is paid per month or per day for the use of
the vessel.

Whilst in the case of bill of lading or liner shipments
standard rates are charged, usually as agreed by the Con-
ference under which the vessel is operating, the rates for
chartered ships fluctuate according to the state of the